September 9, 2020
Schneider Electric, Kimberly-Clark and Tencent Music are among the active deal doers this week ...
September 2, 2020
Allen & Gledhill has advised Flex on the issue of US$250 million 3.75 percent notes due 2026 and US$325 million 4.875 percent notes due 2030. Nasdaq-listed Flex is a globally-recognised provider of Sketch-to-ScaleTM services, from conceptual sketch to full-scale production. Partners Tan Tze Gay, Bernie Lee and Sunit Chhabra led the firm’s team in the transaction. Ashurst has acted for Australia and New Zealand Banking Group (ANZ), Sumitomo Mitsui Banking Corporation (SMBC) and Shinhan Bank, as the joint mandated lead arrangers and book-runners, on a US$450 million syndicated green loan to SK Battery America, a subsidiary of listed Korean oil refining company SK Innovation. SK Innovation is a leading oil and chemical company in South Korea, and a core business of the SK group, the country’s third-largest conglomerate. The company’s origins date back to the establishment of Korea Oil, the country’s first oil refining company, in 1962. The proceeds of the loan will finance the construction and development of proposed electric vehicle battery plants in the US, in line with the company’s green finance framework. ANZ and SMBC acted as joint green coordinators, while ANZ acted as agent on the transaction, which closed shortly after the introduction of the new green loan guidelines jointly published by the APLMA, LMA and LSTA. Partners Jean Woo and Michael Neary led the firm’s team in the transaction. AZB & Partners is advising ICICI Lombard General Insurance on the demerger, under a scheme of arrangement, of the general insurance business of Bharti AXA General Insurance into ICICI Lombard. Partners Shameek Chaudhuri, Arvind Ramesh and Bharat Budholia are leading the firm’s team in the transaction, which was signed on...
August 19, 2020
Allen & Gledhill has advised DBS Bank and Oversea-Chinese Banking Corporation, as the arrangers and dealers, on the establishment of a S$1 billion (US$733m) multicurrency debt issuance programme by NetLink Treasury. DB International Trust (Singapore) was appointed trustee of the programme. Deutsche Bank Singapore Branch was appointed principal paying agent and CDP registrar. Deutsche Bank Aktiengesellschaft Hong Kong Branch was appointed non-CDP paying agent and non-CDP registrar. Partners Margaret Chin, Sunit Chhabra and Daselin Ang led the firm’s team in the transaction. Allen & Gledhill has also advised NTUC Income Insurance Co-operative on the establishment of its S$2 billion (US$1.46b) euro medium term note programme and the issue of its S$800 million (US$585m) 3.1 percent secured notes due 2050 under the programme. Partners Tan Tze Gay, Glenn Foo, Bernie Lee and Sunit Chhabra led the firm’s team in the transaction. Assegaf Hamzah & Partners, a member firm of Rajah & Tann Asia, has acted for the controlling shareholders of seven state-owned hospitals, namely Krakatau Steel, Pelabuhan Indonesia II, Pelabuhan Indonesia III, Perkebunan Nusantara X, Perkebunan Nusantara XI, Perkebunan Nusantara XII and Timah, on the second phase of the establishment of a state-owned hospital holding company, led by Pertamina Bina Medika IHC (PBM). The transaction resulted in PBM becoming the new controller of the seven hospitals, by holding approximately 67 percent shares in each hospital. This second phase was closed on August 7, 2020. Partners Putu Suryastuti and Mohammad Renaldi Zulkarnain led the firm’s team in the transaction. AZB & Partners has advised Housing Development Finance Corporation on its issue of:  (1) approximately 56.8 million equity shares at Rs1,760 (US$23.58), aggregating to...